Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Political risks rise as oil prices fall warns Marsh

Changing trends in the oil and gas industry, largely driven by lower oil prices, have presented risk managers with a new set of risks that need to be addressed, according to a report from broker Marsh. Political and socioeconomic risks have emerged, particularly in countries that have a high dependence on oil and gas, following the dip in oil prices…

Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

Charter launched to eradicate modern slavery in construction supply chains

A Construction Coalition Charter has been launched in the UK that aims to eradicate modern slavery in construction supply chains. The Charter has been established by Building Research Establishment (BRE), the British Standards Institution (BSI) Supply Chain Services and Solutions and strategic communications partner Sustain Worldwide. The coalition of leading construction sector institutions and associations aims to raise awareness on…

African states warned of risks of new ‘gig economy’

African states warned of risks of new ‘gig economy’

African states warned of risks of new ‘gig economy’

African governments have been warned of the dangers of parasitic capitalism, where digital companies give little back to the places where they are embedded and platform workers are left to fend for themselves. Speaking at the 4th UNI Africa Conference in Dakar, Senegal, UNI Global Union general secretary Philip Jennings said research into the future world of work followed by…

Risk managers urged to review crisis plans following London terror attack

Risk managers urged to review crisis plans following London terror attack

Risk managers urged to review crisis plans following London terror attack

The ‘lone wolf’ terror attack in London this week highlights the changing nature of the terror threat, which is increasingly difficult to predict and prevent, said UK risk management association Airmic as it urged risk managers to review their organisations’ crisis response plans. On Tuesday, British-born Khalid Masood drove a car along the pavement in Westminster, London and stabbed a…

Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Oil price affecting political risk in key African states

Political events can have a significant influence on the price of oil, but the price of oil also has a strong influence on political events. In 2016, the latter was in full force, with enormous geopolitical consequences from the downturn in the price of oil, according to a new report from Marsh. Its 2017 Oil and Gas Risk Reward Index…

The keys to the kingdom – risk manager profile

The keys to the kingdom – risk manager profile

The keys to the kingdom – risk manager profile

One of the most notable traits of Asia’s growing risk management industry is the eclectic nature of its protagonists. It is rare that anyone responsible for a company’s risk management does not have other responsibilities thrust on their shoulders. In the case of Parikshit Sen Gupta, vice-president, finance for the Shangri-La Group, his work for the Hong Kong-based hotel group…

US and South Africans to lead risk management initiative in Lagos

US and South Africans to lead risk management initiative in Lagos

US and South Africans to lead risk management initiative in Lagos

Risk management professionals from the US and South Africa are to lead a four-day event in Lagos, aimed at improving risk management in the west Africa region. Anthonia Beri, programme director at National Fire Prevention Awareness and Advocacy (NFPAWA), said the organisation discovered a wide gap in skills and knowledge in life, fire safety, security risk management and mitigation. She added…

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

The US commercial, non-hobbyist drone (or Unmanned Aircraft Systems) fleet is forecast to grow from 42,000 at the end of 2016 to about 442,000 aircraft by 2021, with the possibility of as many as 1.6 million UAS in use by 2021, according to the Federal Aviation Administration. Pilots of commercial UAS vehicles are expected to increase from 20,000 at the…

Third-party risks costing firms, survey finds

Third-party risks costing firms, survey finds

Third-party risks costing firms, survey finds

A quarter of businesses said exposure to third-party risks has cost them more than $10m in losses during the past 18 months, according to a global survey on third-party risk management by MetricStream. Some 21% of respondents said their organisation faced significant risk from third parties used to outsource processes and services, with threats ranging from data security to compliance…

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

As risk managers try to work out the implications of growing protectionism in key global markets, the European Union and Japan have decided to seek a speedy conclusion to their latest trade talks. EU Presidents Jean-Claude Juncker and Donald Tusk meet today with Japan’s Prime Minister Shinzo Abe. Negotiations for a bilateral trade deal will feature high on the agenda.…

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